Budget 2023-24 wishlist: Here’re key challenges in renewable energy sector

Key challenges

India missed the 175-Gw green energy target by the end of 2022 by 55 Gw as due to slow progress in project development
Solar rooftop saw limited growth due to lack of growth in key green energy tech sectors
Concentrated supply chains in China for a number of facets resulting in increased prices for key raw material, components
High interest rates in India results in costlier green power, affecting overall commercial viability and cost parity with fossil fuel power
There is limited access to financing for renewable energy manufacturing

Industry ask

Production-linked incentive scheme in critical sectors
Reduction in goods and services tax rates and duties
Specific impetus for select Sectors
Lowering interest rate for green energy
Regulatory mandates